Money Matters

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Taking a look at money matters, American presidential hopeful John McCain has told an Ottawa audience that Canada and the U-S should have stronger NAFTA ties, including harmonized energy policies.

The Republican says stronger growth and employment in both countries has come from NAFTA, but he says there’s room for improvement in areas such as border-crossing rules.

McCain says as president, he would be open to political advice from friends and allies such as Canada.

At last word, the dollar was trading at 98.21 cents U-S, falling 29-100ths from Thursday’s close.

Canada’s municipalities are greeting the Liberals’ carbon tax plan with a big question mark.

N-D-P Leader Jack Layton warns the tax could result in over-burdened cities hiking property taxes or drastically reducing services.

But Deputy Liberal Leader Michael Ignatieff says the plan includes a one billion dollar reserve to help offset higher costs for cities, hospitals and schools.

And, Canada’s high court will decide whether the largest corporate takeover in Canadian history lives or dies.

The Supreme Court of Canada will rule, after the markets close today, if the 52 billion-dollar takeover of telecom giant B-C-E can go ahead.

Bondholders challenged the proposed buyout by a group led by the Ontario Teachers’ Pension Plan, saying they’ll lose millions.

B-C-E wants to close the deal by June 30th.

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